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Covid-19: Support for Businesses

Volume 686: debated on Tuesday 15 December 2020

My Department continues to deliver a wide range of measures to support UK businesses. We have extended our loan schemes, which have already delivered more than £65 billion of finance, until the end of January.

That level of support is impressive, and I also thank the Minister for all he is doing on the vaccine roll-out. There are sections of the UK economy that are going to grow rapidly, not least the green industrial revolution, thanks to the energy White Paper announced yesterday. What steps is he taking to make sure that it is UK-based businesses that grow the workforce and benefit from the job creation as a result of the green industrial revolution?

I am grateful to my hon. Friend for her excellent question. The 10-point plan will build on the nearly half a million green jobs that already exist in the UK economy, supporting up to 250,000 further high-skilled jobs. The House will be interested to know that we are talking about 60,000 in offshore wind, 10,000 or more in nuclear, 50,000 in green and comfortable homes, 8,000 in hydrogen, 53,000 in carbon capture utilisation and storage and 40,000 in accelerating the shift to zero-emission vehicles.

The weekend before last, I was pleased finally to start my Christmas shopping in Botley High Street, as part of Small Business Saturday, which included visiting Wardrobe at 24 and Mermaids deli. This crucial campaign highlights the important role that businesses and entrepreneurs play. Does my hon. Friend agree that it is more important than ever to support our high streets and shop local this Christmas? Will he assure me that this Government will continue to stand by our town centres and high streets as we recover from covid?

I absolutely agree with my hon. Friend; now more than ever it is vital that we continue to help our local economy by supporting our town centres and high streets. That is why we have delivered one of the most generous comprehensive packages of support, with a total financial package of £200 billion.

Does my hon. Friend agree on what a success the recent Small Business Saturday events were and on how important small businesses are to local communities across my constituency in Gerrards Cross, Beaconsfield and Marlow? Does he agree that we must continue to fight for small businesses during this pandemic, so that we do not risk undermining the economic foundation of our country?

The recent Small Business Saturday event meant that the spend from the Great British public rose to £1.1 billion this year, which is a 38% rise on last year. The Government will continue to champion small businesses, through our unprecedented support schemes, as they begin to recover from the impact of covid-19. As the Secretary of State has just reminded me, the spend is not £200 billion—it is £280 billion of support for small business.

Of the £5 billion of new online spend because of the pandemic, 40% has gone to one website, Amazon. Many small businesses are afraid that they will not make it through the winter because of a lack of Government support, and they have Brexit and climate and technological change to deal with too. So I want to ask the Minister this: what is the plan for small businesses to survive covid and build back smarter and greener? I am talking not about vague promises, but about firm commitments to help businesses invest in new technologies, as Make UK has called for, or to target procurement to support net zero businesses, as the Institution of Civil Engineers proposes. Or are the Government just going to let business down again?

As a fellow engineer, the hon. Lady will know that the Made Smarter initiative has been a tremendous pilot in the north-west. We recently announced a further expansion, with £300 million—£147 million coming from the Government and the balance coming from the private sector—to support the adoption of technology into manufacturing. I hope the hon. Lady will continue to support Government initiatives such as Made Smarter.